The bellwether stock index Nifty has hit the 6,000 mark for the first time since January 6, 2011, sparking off broad-based buying. The NSE benchmark index took 495 trading days to regain this level. Running parallel to the Nifty, the BSE 30 Sensex is also holding firm at 19700. The boom is seen to be a reaction to the passage of the fiscal cliff measures by the US legislature.
The markets continued their positive momentum, opening higher on hopes of the final passage by Obama to prevent Washington from pushing the world's biggest economy into recession.
The BSE 30 Sensex ended 2012 with its best gains in three years as strong foreign inflows and the government's fiscal and economic reforms outweighed worries about the domestic economy. Foreign investors pumped in more than $24.2 billion this year, marking the biggest inflows since a record $29.36 billion in 2010, on the back of cheaper valuations and government measures to further open up the retail and aviation sectors.